Market Update

Gold’s Resilience:Gold prices stabilized in Asian trading on Wednesday, benefiting from a weaker dollar as investors awaited key U.S. consumer inflation data. Federal Reserve Chair Jerome Powell’s remarks suggesting a pause in U.S. rate hikes contributed to the dollar’s decline, supporting gold’s overnight gains. Anticipation of CPI Data:Market focus shifted …

Amid anticipation of key U.S. consumer inflation figures, most Asian stocks saw slight gains on Wednesday, although Chinese markets faced a downturn following the imposition of heightened tariffs by the Biden administration. U.S. Inflation Data Anticipation:Wall Street’s resilience to a hotter-than-expected producer price index reading provided a positive backdrop for …

Ahead of the release of US CPI on Wednesday, market players were analysing sticky US producer prices and Chair Powell’s lukewarm stance, which caused the US dollar to continue its dismal start to the week and retreat to multi-day lows. The USD Index (DXY) continued to fall on Monday, breaking …

The GBP/USD pair has consolidated its gains above 1.2580 during the early Asian session, with the major pair holding above the key 100-day Exponential Moving Average (EMA) but still capped under the 1.2600 hurdle. The US Consumer Price Index and Retail Sales report for April will be in the spotlight, …

The looming CPI data for April 2024 is practically intriguing and warrants close analysis. Its potential impact on major currency performance in the forex market is significant. In this report, we will look closely into the background of this crucial inflation data and explore its implications for currency price action, …

The Dow Jones Industrial Average slipped back to 39,320.00 on Tuesday after US Producer Price Index (PPI) inflation came in higher than expected. Market sentiment recovered and dragged the DJIA back to even. However, a double-header of US Consumer Price Index (CPI) inflation and Retail Sales are still loaded for …

Because of its continued appeal as a safe haven to central banks and investors, gold continues to find support in the face of geopolitical risk aversion. Tuesday sees a stabilization of the gold price in the $2,350s, trading at $2,352.14, up +0.69% at the time of writing, as demand for …

Despite resolute US PPI data that heightens doubts about September Fed rate cuts, the EUR/USD pair rises just above 1.0800. April’s US annual PPI beat forecasts and monthly data exceeded expectations. With service inflation moderating to 3.7%, the Eurozone Price Index is expected to reach 2% again soon. In the …

Federal Reserve Chairman Jerome Powell speaks at a moderated discussion with De Nederlandsche Bank (DNB) President Klaas Knot at the Foreign Bankers’ Association’s Annual General Meeting in Amsterdam. US Dollar stays under modest bearish pressure following these comments. At the time of press, the US Dollar Index was down 0.2% …

The latest data from the US Bureau of Labor Statistics revealed that the Producer Price Index (PPI) for final demand in the United States witnessed a 2.2% rise yearly in April. This figure closely follows March’s increase of 1.8% (revised from 2.1%), aligning precisely with market expectations. The annual core …